Fielder Capital Group LLC has reduced its stake in Costco Wholesale Corporation by 2.9% during the second quarter of 2023, according to a report from HoldingsChannel.com. Following the sale of 63 shares, the firm now holds 2,087 shares valued at approximately $2,066,000, as per the latest filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made adjustments to their positions in Costco. For instance, Bulwark Capital Corp initiated a new stake in the company worth around $25,000 during the same period. Additionally, Anderson Financial Strategies LLC significantly increased its investment by 900% in the first quarter, acquiring a total of 40 shares now valued at $38,000.
In another notable move, Financial Connections Group Inc. raised its stake in Costco by an impressive 975% during the second quarter, bringing its total to 43 shares valued at $42,000. Similarly, Frazier Financial Advisors LLC increased its holdings by 72%, now owning 43 shares worth $43,000. eCIO Inc. also acquired a new position in the retailer during the first quarter valued at approximately $48,000. Currently, institutional investors and hedge funds collectively own 68.48% of Costco’s stock.
Costco’s Market Performance and Dividend Announcement
As of the latest trading session, Costco’s stock opened at $932.14. Over the past year, the stock has seen a low of $867.34 and a high of $1,078.23. The company’s market capitalization stands at $413.11 billion, with a price-to-earnings ratio of 51.19 and a beta of 0.98. The stock’s 50-day moving average is $945.23, while the 200-day moving average is $971.67.
In a significant update, Costco recently declared a quarterly dividend of $1.30 per share, which will be distributed to shareholders on November 14, 2023. Shareholders recorded as of October 31, 2023 will receive this dividend, translating to an annualized payout of $5.20 and a dividend yield of 0.6%. The company’s current dividend payout ratio is 28.56%.
Analyst Ratings and Insider Transactions
Costco has been the subject of several research reports from financial analysts. Notably, Truist Financial lowered its price target for the company from $1,042.00 to $1,033.00, maintaining a “hold” rating. The Telsey Advisory Group reaffirmed an “outperform” rating with a price target of $1,100.00. Conversely, Daiwa Capital Markets decreased its target from $1,005.00 to $947.00 while retaining a “neutral” rating.
In insider trading news, Tiffany Marie Barbre, an insider at Costco, sold 1,239 shares on October 24, 2023, at an average price of $934.62, amounting to a total of $1,157,994.18. Following this transaction, Barbre holds 5,155 shares worth approximately $4,817,966.10, reflecting a 19.38% decrease in her holdings. Additionally, Russell D. Miller, an executive vice president, sold 3,381 shares on September 29, 2023, for $3,093,615.00. After this sale, he owns 9,740 shares, valued at around $8,912,100, marking a decrease of 25.77%.
In total, insiders sold 7,920 shares of Costco stock last quarter, amounting to $7,373,175. Currently, company insiders own 0.18% of the stock.
Costco Wholesale Corporation operates membership warehouses across various countries, including the United States, Canada, Japan, and several European nations, offering a diverse range of branded and private-label products.
